Crypto Startup Uses Surveys to Build Exchange Based on 'Emotions and Thoughts' of Traders

A new crypto exchange says it offers "Bells and whistles" compared with rivals - and argues that most of the market leaders are failing to provide investors with the technical analysis tools they need to make informed decisions.

In a break away from confusing user interfaces, Encrybit wants to help traders that it says have been pushed to use third-party software because exchanges have let them down.

It claims many crypto enthusiasts have no choice but navigate between multiple exchanges - remembering seemingly endless passwords and withdrawals fee in order to access the broad range of cryptocurrencies they want to trade.

In addition to software that makes trading "Enjoyable, engaging and profitable," the startup plans to provide "a fantastic informative and learning section" enabling people of all backgrounds to discover more about how the market works.

"A new generation of crypto exchanges"Encrybit's white paper sets out a plethora of features that its exchange intends to offer.

Smart alerts will enable traders to receive notifications whenever prices hit a certain level, with information sent via email and through apps.

In a survey online, it discovered that the biggest concerns for investors include security, high trading fees, a lack of liquidity and inadequate crypto pairs.

The firm says this intelligence "Merges the emotions and thoughts of cryptocurrency traders," and has been used extensively in research by other projects.

The exchange has a native token known as ENCX, and says this digital currency will enable crypto traders to reduce trading fees by 50 percent.

Towards the middle of 2019, Encrybit plans to begin registration for coin listings - and its exchange will open in beta.